The joint venture, called Parkway-HS LLC, will serve as aerospace system supplier Hamilton Sundstrand's global composites manufacturing centre.

Parkway-HS will initially target composite components for aircraft air management systems and auxiliary power units. The composite products will be manufactured at a newly-renovated facility in Parkway's existing aerospace and defence campus in Saltillo, Mexico.

Parkway Products will provide operational leadership for the joint venture. Parkway CEO Joe Klunk will serve as President, and Parkway Vice Presidents Nick Bitter and Dan Deutenberg will serve as Chief Operating Officer and Chief Financial Officer.

"Parkway is a world leader in custom composite moulding technologies, with a track record of success in aerospace-focused production in Mexico," says Nick Bitter, Parkway Vice President – Aerospace & Defense. "With demand for composite aircraft components at the highest levels in history, this partnership presents an opportunity to build on the strengths of both companies to further develop and utilise composite components in aerospace applications."

Parkway Products, based in Florence, Kentucky, USA, specialises in the moulding of high performance materials including thermoplastics, thermosets and composites.

Hamilton Sundstrand, a subsidiary of United Technologies Corp, is headquartered in Windsor Locks, Connecticut, USA.